Crypto Analyst Says Ethereum Competitor Fantom (FTM) Could Jump To $1.2

by

As a crypto investor with some experience in the market, I find the bullish narratives for Fantom (FTM) from Altcoin Sherpa and Bitcoin Ape quite intriguing. The potential price target of $1.2 seems plausible, given the consolidation at a key level and the optimistic outlook on Fantom’s trajectory.

As a crypto analyst with a focus on altcoins, I’ve put forth a bullish perspective for Fantom (FTM). I believe that FTM is primed for a substantial price increase in the near future. The factors driving this potential rally include the project’s growing adoption, impressive partnerships, and the overall positive sentiment within the crypto community. When this upward trend takes place, Fantom could experience significant gains, potentially reaching new all-time highs.

Fantom Could Rise To As High As $1.2

According to Altcoin Sherpa’s analysis presented in the chart, Fantom has the potential to reach a peak of $1.2 during its next price surge. However, prior to this upward trend, the crypto token is currently consolidating at a significant level. The analyst also anticipates that Fantom will establish a sideways trend, or chop range, between $0.50 and $0.70, which could act as a supportive foundation while it advances towards higher prices.

Altcoin Sherpa sounded optimistic about Fantom’s trajectory, stating that he believes FTM will still be a “decent project” going forward, especially with the move to Sonic. In May, the Fantom Foundation announced plans to build Sonic, a layer-1 blockchain with a layer-2 network that connects to Ethereum. 

Bitcoin Analyst Bitcoin Ape and Altcoin Expert Altcoin Sherpa both expressed the belief that Fantom’s price could reach $1.2. According to Bitcoin Ape’s analysis, this increase may occur during a market upswing, with Bitcoin taking the lead. Notably, Bitcoin Ape identified a falling wedge pattern on Fantom’s chart as evidence of an upcoming price surge.

As a crypto investor, I’ve been closely following the developments at Fantom, and I can’t help but be bullish about their recent pivot to Sonic. Fantom has undergone a significant transformation in recent times with numerous updates. The launch of Sonic Labs is just one example. Moreover, the over $100 million worth of $S airdrops are an enticing proposition for developers and users, potentially drawing them into the Fantom ecosystem.

During this period, according to Bitcoin Ape’s analysis, Fantom may exhibit greater price instability due to being overbought at the moment. Nevertheless, once it moves beyond the overbought state, a significant price increase or “breakout” is anticipated by the crypto analyst.

FTM Could Drop To As Low As $0.45 Before Next Leg Up

As a crypto investor, I’ve been closely following the market trends and analyses from experts like Ijaz Awan. Recently, he expressed his concern that Fantom (FTM) could experience a significant drop to around 0.45 USD due to Bitcoin’s current weakness. He explained that this downward pressure on Bitcoin is causing altcoins such as FTM to struggle and lose momentum. Consequently, Ijaz predicts that FTM might undergo a phase of consolidation between the price ranges of 0.45 and 0.55 USD before it potentially experiences its next bullish run.

The analyst issued a cautionary note: if Fantom’s price falls below the specified range, its structural analysis could become invalid, potentially triggering additional decreases in the crypto token’s value.

As a crypto investor, I’m observing that Fantom is currently priced at approximately $0.54 based on the latest information from CoinMarketCap. However, it’s important to note that its value has decreased by around 3% within the past 24 hours.

Read More

2024-06-29 18:40